The Business of Good Foundation
The Business of Good Foundation is a private foundation based in Ashtabula, Ohio. Tim and Alice McCarthy say they started it in 1997 and that it is entirely self-funded. The foundation supports economic inclusion through education, small-business entrepreneurship, and social enterprise.
Key facts about The Business of Good Foundation
In short: The Business of Good Foundation gave $1.3M across 13 grants in 2025 (avg $101K), mostly in Ohio. 15% of 2025 grantees were new. Source: 2025 IRS Form 990-PF.
- EIN
- 34-1973248
- Latest 990 filing
- Form 990-PF, 2025
- Annual giving (2025)
- $1,319,210
- Grants made (2025)
- 13
- Average grant
- $101,478
- Median grant
- $5,000
- New grantees (estimate)
- 15% first-time grantees (2 of 13, 2025; small sample)
- Total assets
- $12,041,143
- Primary geography
- Ohio (99% of itemized 2025 grant dollars)
- Accepts unsolicited proposals
- Yes
- How to apply
- The foundation accepts unsolicited requests. Full details ↓
- Deadline
- The filing says applications should be submitted before October 15 for consideration by December 31 of the current year.
Data from IRS Form 990-PF, 2025; updated October 2026. New grantees are estimated by matching recipient names across years (methodology). Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Financial Overview
From 2025 IRS Form 990-PF · View filing
Total Assets
$12.0M
-5.8% YoY
Annual Giving
$1.3M
-20.2% YoY
Grant Count
13
+8.3% YoY
Avg Grant Size
$101K
-26.3% YoY
Is The Business of Good Foundation open to new grantees?
15%
first-time grantees, 2025
In 2025, 2 of 13 grantees (15%) were first-time recipients. With only 13 grantees, that is a small sample: one grantee more or less moves the share by about 8 points. First grants averaged $6K; repeat grants $119K. How we count
Medians: $6K first-time, $5K repeat.
Estimate from itemized grant lists in IRS Form 990-PF filings (2020–2025). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Mission & Focus Areas
The foundation’s website describes its longstanding mission as “serving those who serve the poor.” It also says its work advances economic inclusion through education, small-business entrepreneurship, and social enterprise.
Its 2025 grants included organizations with varied missions. Sea Change Incorporated says it supports societal innovation and betterment through education and support for people and organizations in social entrepreneurship. America Mentors says it helps first-generation, low-income college students persist to graduation through mentoring. Other grantees describe work in essential human services, hunger and homelessness, postsecondary access, youth development, and children’s learning.
Grantmaking
In filing year 2025, the foundation reported 13 grants totaling $1,319,210. Grants ranged from $1,000 to $595,000, with a median of $5,000. The largest grants were $595,000 to Sea Change Incorporated, $337,000 to NEO Fund, and $330,000 to America Mentors; each was listed for general operations.
The 2024 filing says the foundation does not restrict giving to preselected organizations. It states that applicants should submit a written request with proof of exempt status and an explanation of how they intend to use the funds. The filing lists no award restrictions.
Review Cycle
The filing says applications should be submitted before October 15 for consideration by December 31 of the current year.
How to Apply
The foundation accepts unsolicited requests. The filing says to contact Brad Roller and submit a written request, proof of exempt status, and an explanation of intended use of funds.
Ready to take the next step with The Business of Good Foundation?
Geographic Focus
Where this funder awards grants
In 2025, 99% of grant dollars went to recipients in Ohio and 1% to recipients in Florida. The foundation’s website describes its entrepreneur support as focused on Northeast Ohio.
Grant Distribution by State
Share of 2025 grant dollars across all 13 itemized grants.
Cities
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2025, annual grant giving ranged from $558K (2020) to $1.7M (2024). In 2025 it made 13 grants totaling $1.3M.
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2025
The largest 2025 recipient was Sea Change Incorporated ($595K). Together the top 10 received $1.3M.
Grant Size Distribution
70 grants across all recorded years
The most common grant size was under $50K: 47 grants of 70 (67%).
Giving History
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Sea Change Incorporated Columbus, OH | General Operations | $595,000 |
| Neo Fund Ashtabula, OH | General Operations | $337,000 |
| America Mentors Columbus, OH | General Operations | $330,000 |
| Go Community Development Corporation Ashtabula, OH | General Operations | $17,000 |
| St Matthew's House Naples, FL | General Operations | $10,000 |
| College Now Greater Cleveland Inc Cleveland, OH | General Operations | $7,210 |
| First Tee of Cleveland Newburgh Heights, OH | General Operations | $5,000 |
| The City Mission Cleveland, OH | General Operations | $5,000 |
| West Side Catholic Center Cleveland, OH | General Operations | $5,000 |
| Ashtabula County District Library Foundation Inc Ashtabula, OH | General Operations | $3,000 |
Financial History
Multi-year comparison from IRS filings
| Filing year | Assets | Revenue | Expenses | Grant sum | Grant count |
|---|---|---|---|---|---|
| 2025 | $12,041,143 | $393,371 | $1,639,547 | $1,319,210 | 13 |
| 2024 | $12,779,626 | $957,055 | $1,844,146 | $1,652,927 | 12 |
| 2023 | $13,064,075 | $254,502 | $1,632,879 | $1,406,334 | 10 |
| Metric | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total Assets | $12,041,143 | $12,779,626 | $13,064,075 |
| Revenue | $393,371 | $957,055 | $254,502 |
| Expenses | $1,639,547 | $1,844,146 | $1,632,879 |
| Qualifying Distributions | $1,604,566 | $1,803,831 | $1,579,133 |
| Net Investment Income | $377,921 | $904,450 | $403,038 |
Data update history
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2020 (received by the IRS August 23, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS November 9, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS May 15, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS May 14, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS May 2, 2025)
- Updated Form 990-PF for fiscal year 2025 (received by the IRS March 25, 2026)
- IRS filings on file for fiscal years 2020–2025
Leadership & Key People
Leadership team and compensation from IRS filings
The 2025 filing lists Stuart W. Cordell as president; Andrea Bushweiler as treasurer; and Brad Roller, Alice McCarthy, and Timothy P. McCarthy as directors.
The Business of Good Foundation is led by Stuart W. Cordell, President since 2022 (on filings since 2020); 3 of 5 officers listed in 2025 are compensated.
Officers on the 2025 filing
Stuart W. Cordell
President
Treasurer → President, 2022
On filings since 2020
20 hrs/week
$50K (2023) → $160K (2025)
Timothy P. McCarthy
Director
Secretary → Director, 2022
On filings since 2020
2 hrs/week
$36K (2025)
Alice McCarthy
Director
Vice President → Director, 2022
On filings since 2020
2 hrs/week
No compensation reported
Brad Roller
Director
President → Director, 2022
On filings since 2020
2 hrs/week
No compensation reported
Andrea Bushweiler
Treasurer
On filings since 2022
10 hrs/week
$24K (2022) → $36K (2025)
Data from IRS Form 990 filings, 2020–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $160K, to Stuart W Cordell (President). 3 officers or directors reported compensation on that filing.
Contact
Application contact: Brad Roller
Mailing address: PO Box 2838, Ashtabula, OH 44005
Phone: (440) 964-5541
Website: https://www.thebusinessofgood.org
Frequently asked questions about The Business of Good Foundation
How much does The Business of Good Foundation give each year?
The Business of Good Foundation gave $1.3M across 13 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $1.7M across 12 grants.
What is The Business of Good Foundation's typical grant size?
The Business of Good Foundation's median grant in 2025 was $5,000, and its average grant was $101,478, across 13 grants on its 2025 IRS Form 990-PF. Organizations receiving their first grant from The Business of Good Foundation that year got $6K on average.
Where does The Business of Good Foundation give grants?
The Business of Good Foundation gives mostly in Ohio: 99% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The most frequent recipient cities were Ashtabula, OH (4 grants), Cleveland, OH (3 grants) and Columbus, OH (2 grants).
Does The Business of Good Foundation give general operating support?
Yes: 100% of The Business of Good Foundation's 2025 grants with a stated purpose (13 of 13) were for general or operating support, per its 2025 IRS Form 990-PF.
Who are The Business of Good Foundation's largest grantees?
The Business of Good Foundation's largest 2025 grantees include Sea Change Incorporated ($595,000), Neo Fund ($337,000) and America Mentors ($330,000), according to its 2025 IRS Form 990-PF. Together they received 96% of its itemized 2025 grant dollars.
How large is The Business of Good Foundation?
The Business of Good Foundation reported $12.0M in total assets on its 2025 IRS Form 990-PF. Its revenue that year was $393K.
What does The Business of Good Foundation fund?
The foundation’s website describes its longstanding mission as “serving those who serve the poor.” It also says its work advances economic inclusion through education, small-business entrepreneurship, and social enterprise. See mission & focus areas ↑
How do I apply for a grant from The Business of Good Foundation?
The foundation accepts unsolicited requests. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is The Business of Good Foundation's EIN?
The Business of Good Foundation's EIN (Employer Identification Number) is 34-1973248. IRS Form 990 filing data is available on this page for 2020–2025.
Does The Business of Good Foundation accept unsolicited proposals?
Yes, according to Grantable's research on the foundation's published guidelines. See how to apply ↑
Data last updated October 2026. Sourced from IRS Form 990-PF filings. Research dossier generated October 2026.
Here's the math on researching The Business of Good Foundation by hand.
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